In December 2024, Millie Matthews opened a miniature golf course to cater for the summer holiday tourists and completed the transactions below during its first month of operations. For the sake of simplicity, GST is ignored.

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Dec. 1 Invested $85000 capital in the business. 2 Purchased golf clubs, balls and other equipment costing $80 000 for $40000 cash and a loan for $40 000. Paid $1500 for advertising. 4 6 Purchased supplies on credit for $6200. 15 Recorded cash revenue for the first half of the month of $8400. 24 31 31 Withdrew $1540 from the business bank account for personal use. Recorded cash revenue for the second half of the month of $20200. Paid wages of $2700. 31 Paid rent for December, $2400. Use the following account titles and numbers. Cash at bank, 1-100 Supplies, 1-110 Equipment, 1-120 Accounts payable, 2-100 Loan payable, 2-110 M. Matthews, capital, 3-100 M. Matthews, drawings, 3-110 Revenue, 4-100 Rent expense, 5-100 Advertising expense, 5-110 Wages expense, 5-120 Required The following transactions took place in January 2025.